Can I retire at age 63 with 889,000?

Use the below retirement simulation to view the chances of a successful retirement.
Confused? Try the simple retirement calculator
About Your Retirement ?
Current Age
Retirement Age
Current Savings $
Annual Deposits $
Annual Withdrawals $
Stock market crash:
Portfolio ?
% in Stocks:
% in Bonds:
% in Cash:
Modify Stock Returns:
0%
Modify Bond Returns:
0%
Modify Cash Returns:
0%
Modify Inflation:
0%
How much money do I need to retire?

This retirement calculator runs simulations based on past data from the S&P 500, 10 Year Treasury Bond, 3 month T-Bill, and US inflation. For each year of each simulation, a random return and inflation amount is chosen.

How to use: Enter your current age and the age when you retire. Then enter your current savings, the amount that you can save annually before you retire, and the amount that you plan to withdraw after retirement. Your annual deposits and withdrawals take inflation into account. For example, if you need $50,000 to live on in retirement using today's dollars, we will automatically take into account the cost of living for your retirement years. The same is true for your annual deposits. Next, decide if you'd like to simulate a stock market crash.

In the portfolio section, choose the makeup of your portfolio with stocks, bonds, and cash. Cash assumes that your money is stored in a savings account. You can then alter the future returns and inflation. For example, if the market has historically returned about 10%, but you think the future will be worse, modify the stock returns by -3%, and the future returns will average out to 7%. Investment fees can also lower stock market returns. Many index funds and ETFs offer extremely low fees and expenses.

Many people receive income in retirement, such as social security, pension plans, part time jobs, annuities, and other benefits. This would allow you to take out smaller distributions every year. Please note that taxes must also be considered, but are not used in this simulation. A 401k, Roth IRA, and Traditional IRA are taxed differently than a standard investment account, as are dividends.

Note: This assumes that the future is at least somewhat like the past. In reality, anything could happen. The Soviet Union collapsed, Japan's Nikkei Index is still well below its 1989 peak. Numerous other markets have changed drastically and never recovered. However, this online tool is helpful in retirement planning and estimating how much you might need for retirement, especially those hoping to retire early. We recommend receiving advice from a financial planner.

Want to retire with $889,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.9%
1 years$73,413$72,759$72,121$71,498$70,890$70,033
2 years$36,343$35,666$35,010$34,374$33,757$32,895
3 years$23,988$23,308$22,654$22,024$21,417$20,576
4 years$17,812$17,134$16,486$15,867$15,275$14,462
5 years$14,107$13,433$12,794$12,187$11,612$10,829
6 years$11,638$10,969$10,339$9,746$9,188$8,436
7 years$9,875$9,212$8,592$8,013$7,472$6,752
8 years$8,553$7,896$7,287$6,722$6,199$5,510
9 years$7,526$6,875$6,276$5,726$5,220$4,562
10 years$6,705$6,060$5,472$4,935$4,448$3,821
11 years$6,033$5,395$4,817$4,295$3,825$3,228
12 years$5,474$4,842$4,275$3,768$3,315$2,747
13 years$5,001$4,376$3,820$3,326$2,891$2,351
14 years$4,596$3,978$3,432$2,953$2,534$2,023
15 years$4,245$3,634$3,099$2,633$2,231$1,747
16 years$3,939$3,334$2,809$2,358$1,972$1,514
17 years$3,668$3,070$2,556$2,118$1,748$1,316
18 years$3,429$2,837$2,334$1,909$1,555$1,146
19 years$3,214$2,629$2,136$1,725$1,386$1,001
20 years$3,021$2,443$1,961$1,562$1,238$875
21 years$2,847$2,276$1,803$1,418$1,108$767
22 years$2,689$2,124$1,662$1,289$993$673
23 years$2,545$1,987$1,535$1,174$891$591
24 years$2,413$1,862$1,419$1,071$801$519
25 years$2,292$1,747$1,315$978$721$457
26 years$2,180$1,642$1,219$894$649$403
27 years$2,077$1,545$1,132$819$585$355
28 years$1,981$1,456$1,052$750$528$313
29 years$1,892$1,374$979$688$477$276
30 years$1,810$1,297$912$631$431$244
31 years$1,732$1,226$850$580$390$215
32 years$1,660$1,160$793$533$352$190
33 years$1,592$1,099$741$490$319$168
34 years$1,528$1,042$692$451$289$148
35 years$1,468$988$647$415$262$131
36 years$1,412$938$605$382$237$116
37 years$1,359$891$567$352$215$103
38 years$1,308$846$531$325$195$91
39 years$1,261$805$497$299$177$80
40 years$1,215$766$466$276$160$71
41 years$1,173$729$437$255$145$63
42 years$1,132$694$410$235$132$56
43 years$1,093$661$385$217$120$49
44 years$1,056$630$361$200$109$44
45 years$1,021$601$339$185$99$39
46 years$988$573$318$171$90$34
47 years$956$547$299$158$81$30
48 years$925$522$281$146$74$27
49 years$896$499$264$135$67$24
50 years$868$477$248$125$61$21

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $889,000, adding $6,766 every year, while hoping to spend $26,220 every year in retirement. These numbers increase with inflation.
Reality usually performs much different than the expected returns. This uses historical averages, but anything can happen. In general, riskier investments have greater returns on average, but more volatility in the short term.
Age Total: 100% Stocks Total: 100% Bonds Total: 100% Cash Total: 40/31/29 Blend
62$889,000$889,000$889,000$889,000
63$986,657$939,540$925,761$1,017,453
64$1,059,398$957,680$928,876$1,058,642
65$1,138,680$975,829$931,216$1,100,250
66$1,225,143$993,962$932,729$1,144,772
67$1,319,489$1,012,048$933,357$1,192,492
68$1,422,494$1,030,056$933,042$1,243,721
69$1,535,011$1,047,951$931,722$1,298,807
70$1,657,979$1,065,697$929,331$1,358,133
71$1,792,430$1,083,254$925,801$1,422,120
72$1,939,504$1,100,579$921,061$1,491,236
73$2,100,453$1,117,627$915,037$1,565,994
74$2,276,657$1,134,349$907,648$1,646,965
75$2,469,636$1,150,692$898,814$1,734,775
76$2,681,063$1,166,599$888,448$1,830,120
77$2,912,780$1,182,011$876,460$1,933,763
78$3,166,816$1,196,863$862,754$2,046,551
79$3,445,409$1,211,086$847,234$2,169,417
80$3,751,018$1,224,607$829,793$2,303,391
81$4,086,356$1,237,347$810,326$2,449,611
82$4,454,409$1,249,222$788,717$2,609,332
83$4,858,468$1,260,143$764,848$2,783,940
84$5,302,157$1,270,016$738,596$2,974,964
85$5,789,469$1,278,738$709,830$3,184,093
86$6,324,800$1,286,201$678,415$3,413,189
87$6,912,997$1,292,292$644,209$3,664,309
88$7,559,396$1,296,888$607,064$3,939,722
89$8,269,878$1,299,860$566,824$4,241,930
90$9,050,922$1,301,069$523,328$4,573,696
91$9,909,663$1,300,368$476,407$4,938,067
92$10,853,966$1,297,603$425,884$5,338,408
93$11,892,493$1,292,609$371,574$5,778,427
94$13,034,790$1,285,210$313,285$6,262,217
95$14,291,373$1,275,219$250,814$6,794,293
96$15,673,830$1,262,441$183,953$7,379,636
97$17,194,926$1,246,666$112,480$8,023,740
98$18,868,728$1,227,673$36,168$8,732,664
99$20,710,735$1,205,226$0$9,513,093
100$22,738,026$1,179,077$0$10,386,407